It looks like the CEO was brought in to bring cash that the government promised under the CHIPS act, but this did not materialize.
Quite a bit of news seem to revolve around manufacturers not getting the grants promised, and this is not just Intel.
https://www.tomshardware.com/t...
https://www.tomshardware.com/n...
Now he's heading out the door.
One strange thing they seem to have done is to corner the market for EUV lithography machines, absorbing all the production of ASML, but not using them for commercially offered chips.
I never liked Intel's hardware offerings, starting with the Celeron of the late 90's and culminating with Itanium's "We'll sweep our dirt under your rug" approach, but I have to admit that their software offerings are second to none.
Their C++ compiler produces number-crunching code that is many times faster than that produced by other compilers.
I hope they will stay around, at least for that.